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Nike Inc. (NKE): Today's Featured Consumer Non-Durables Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Nike (
NKE) pushed the Consumer Non-Durables industry lower today making it today's featured Consumer Non-Durables laggard. The industry as a whole closed the day down 1.1%. By the end of trading, Nike fell $0.82 (-1.1%) to $71.32 on light volume. Throughout the day, 2,421,238 shares of Nike exchanged hands as compared to its average daily volume of 3,619,400 shares. The stock ranged in price between $71.30-$71.97 after having opened the day at $71.41 as compared to the previous trading day's close of $72.14. Other companies within the Consumer Non-Durables industry that declined today were:
Ever-Glory International Group (
EVK), down 16.1%,
Cooper Tire & Rubber Company (
CTB), down 12.8%,
Tandy Brands Accessories (
TBAC), down 11.1% and
Myers Industries (
MYE), down 9.3%.

NIKE, Inc., together with its subsidiaries, engages in the design, development, marketing, and sale of athletic footwear, apparel, equipment, and accessories, as well as in the provision of services to men, women, and kids worldwide. Nike has a market cap of $49.5 billion and is part of the consumer goods sector. Shares are up 34.6% year to date as of the close of trading on Friday. Currently there are 8 analysts that rate Nike a buy, no analysts rate it a sell, and 12 rate it a hold.

TheStreet Ratings rates
Nike as a
buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.